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U.S. Court Blocks Trump’s ’Liberation Day’ Tariffs, Potential $10 Billion Refund Looms
U.S. Court Blocks Trump’s ’Liberation Day’ Tariffs, Potential $10 Billion Refund Looms
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The Manhattan Court of International Trade has ruled President Trump’s ’Liberation Day’ tariffs illegal under the IEEPA, dealing a significant blow to U.S. trade policy. The decision could force the administration to refund approximately $10 billion in collected tariffs, including $3.5 billion to China alone.
Market analysts are closely watching the Ripple effects of this ruling, which may reshape global trade dynamics. The court’s finding of lacking statutory authority creates unprecedented uncertainty for ongoing trade negotiations.
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